Film Independent, the organization which also produces the Los Angeles Film Festival, will hold the 29th annual ceremony in a tent on the beach in Santa Monica on Saturday, March 1st, the day before the Academy Awards The telecast of the event will air later that evening at 10 p.m. ET/PT on IFC.

Oswalt, who earned a Spirit Award nomination for playing a crazed football fan in 2009's "Big Fan," plays an exceptionally helpful employee of the online dating site eHarmony in Ben Stiller's "The Secret Life of Walter Mitty" this Christmas. He is also on Adult Swim's "The Heart, She Holler" and ABC's sitcom "The Goldbergs." He is perhaps best known for his long-running role as a nerdy friend on the 1998-2007 TV show "The King of Queens."

“Patton is an incredibly talented writer, actor and comedian whose irreverent humor is the perfect fit for our show," said executive producer Diana Zahn-Storey in a statement. "We couldn’t be more thrilled that he will be hosting the 2014 Film Independent Spirit Awards.”

Previous hosts of the Spirit Awards include John Waters, Samuel L. Jackson and Andy Samberg.